Robert Douglas Lawler, 46, one of Anadarko Petroleum Corp.’s top exploration and production (E&P) executives, last week was tapped to be CEO and president of Chesapeake Energy Corp.
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Researchers at Ohio State University (OSU) want to set up a functioning oil and gas well at the school’s Eastern Agricultural Station in Noble County, OH, to study the environmental effects of hydraulic fracturing (fracking).
Robert Douglas Lawler, tapped to be CEO of Chesapeake Energy Corp. beginning June 17, will earn more than co-founder and predecessor Aubrey McClendon, according to a Securities and Exchange Commission (SEC) filing (see Daily GPI, May 21). The compensation package for the first year of employment has the potential to total at least $22 million, if Lawler hits his bonus targets, the SEC Form 8-K indicated. Base salary is set at $1.25 million a year, with a cash bonus of at least $800,000 the first year, a cash signing bonus of $2 million, and shares and options worth $18 million. About $7.5 million of the shares and options are to be paid over the next five years. If Lawler stays for five years, he is to receive another $5 million. About $12.5 million of the share awards are to compensate for losses in pensions and benefits for leaving Anadarko Petroleum Corp. By comparison, McClendon earned a base salary of $975,000 in 2012, with total remuneration of $16.9 million, according to company documents. However, McClendon also earns, and will continue to earn through June 2014, up to 2.5% in profits on wells that the company drills.
President Obama Monday tapped Anthony Foxx, the mayor of Charlotte, NC, to succeed Ray LaHood as secretary of the Department of Transportation (DOT), which oversees the safety of the nation’s natural gas and hazardous pipeline infrastructure, as well as roads, airports and railways.
Former TransCanada Corp. CEO Hal Kvisle was tapped last week to take over at Talisman Energy Inc. after CEO John A. Manzoni agreed to step down. The former BP plc executive, had led the company for the past five years (see NGI, June 4, 2007).